Report Summary - **Report Date**: July 15, 2025 [1] - **Report Name**: Hot Rolled Coil Industry Chain Daily Report 1. Report Industry Investment Rating No information provided. 2. Report's Core View - On Tuesday, the HC2510 contract decreased with reduced positions. Macroscopically, China's fixed - asset investment in the first half of the year increased by 2.8% year - on - year, with the growth rate continuing to slow down, dampening market sentiment. - In terms of supply and demand, the weekly output of hot - rolled coils decreased slightly, with a capacity utilization rate of 82.55%. The factory inventory decreased while the social inventory increased, with the total inventory rising by 0.63 tons. The apparent demand decreased slightly but remained above 3.2 million tons. - Overall, the hot - rolled coil output remained at a relatively high level, and the terminal demand showed strong resilience. The promotion of the orderly exit of backward production capacity still supported the steel market, but the decline in the first - half economic data affected market confidence. - Technically, the 1 - hour MACD indicator of the HC2510 contract showed that DIFF and DEA were adjusting downward, with the green bar expanding. In operation, consider 3,200 as the long - short watershed in the short - term, and pay attention to rhythm and risk control [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - HC main contract closing price: 3,259 yuan/ton, down 17 yuan [2] - HC main contract position: 1,566,776 lots, down 13,515 lots - HC contract top 20 net position: - 20,861 lots, up 2,773 lots - HC10 - 1 contract spread: - 18 yuan/ton, down 6 yuan - HC Shanghai Futures Exchange warehouse receipt: 64,587 tons, unchanged - HC2510 - RB2510 contract spread: 145 yuan/ton, up 7 yuan 3.2 Spot Market - Hangzhou 4.75 hot - rolled coil: 3,310 yuan/ton, down 20 yuan [2] - Guangzhou 4.75 hot - rolled coil: 3,300 yuan/ton, unchanged - Wuhan 4.75 hot - rolled coil: 3,330 yuan/ton, up 10 yuan - Tianjin 4.75 hot - rolled coil: 3,200 yuan/ton, unchanged - HC main contract basis: 51 yuan/ton, down 3 yuan - Hangzhou hot - rolled coil - rebar spread: 50 yuan/ton, down 10 yuan 3.3 Upstream Situation - Qingdao Port 61.5% PB fine ore: 752 yuan/wet ton, down 3 yuan [2] - Hebei quasi - first - class metallurgical coke: 1,265 yuan/ton, unchanged - Tangshan 6 - 8mm scrap steel: 2,210 yuan/ton, unchanged - Hebei Q235 billet: 2,950 yuan/ton, down 10 yuan - Domestic iron ore port inventory: 137.6589 million tons, down 1.1251 million tons - Sample coking plant coke inventory: 597,700 tons, down 19,400 tons - Sample steel mill coke inventory: 6.3797 million tons, up 4,200 tons - Hebei billet inventory: 975,300 tons, up 101,900 tons 3.4 Industry Situation - 247 steel mills' blast furnace operating rate: 83.13%, down 0.31% [2] - 247 steel mills' blast furnace capacity utilization rate: 89.87%, down 0.40% - Sample steel mill hot - rolled coil output: 3.2314 million tons, down 50,000 tons - Sample steel mill hot - rolled coil capacity utilization rate: 82.55%, down 1.28% - Sample steel mill hot - rolled coil factory inventory: 778,100 tons, down 5,100 tons - 33 - city hot - rolled coil social inventory: 2.6775 million tons, up 11,400 tons - Domestic crude steel output: 83.18 million tons, down 3.37 million tons - Steel net export volume: 9.208 million tons, down 892,000 tons 3.5 Downstream Situation - Automobile production: 2.7941 million vehicles, up 145,600 vehicles [2] - Automobile sales: 2.9045 million vehicles, up 218,100 vehicles - Air conditioners: 29.48 million units, down 1.353 million units - Household refrigerators: 8.51 million units, up 331,000 units - Household washing machines: 9.412 million units, down 239,000 units 3.6 Industry News - In June 2025, China's crude steel output was 83.18 million tons, a year - on - year decrease of 9.2%; steel output was 127.84 million tons, a year - on - year increase of 1.8%. From January to June, China's crude steel output was 514.83 million tons, a year - on - year decrease of 3.0%; steel output was 734.38 million tons, a year - on - year increase of 4.6% [2]. - In the first half of 2025, the national fixed - asset investment (excluding rural households) was 24.8654 trillion yuan, a year - on - year increase of 2.8%. Among them, private fixed - asset investment decreased by 0.6% year - on - year. After deducting the impact of price factors, fixed - asset investment (excluding rural households) increased by 5.3% year - on - year. On a month - on - month basis, fixed - asset investment (excluding rural households) in June decreased by 0.12%.

Report Summary 1. Report Industry Investment Rating No information provided on the industry investment rating. 2. Core View of the Report On Wednesday, the HC2510 contract decreased in positions and consolidated. Macroscopically, US Treasury Secretary Bezant said on the 7th local time that he expects to meet with Chinese officials in the next few weeks to promote consultations between China and the US on trade and other issues. In terms of supply and demand, the weekly output of hot-rolled coils continued to rise, with a capacity utilization rate of 83.83%, remaining at a high level. Both factory and social inventories increased, with the total inventory rising by 3.77 million tons. The apparent demand was 3.2437 million tons, 66,700 tons higher than the same period last year. Overall, the output of hot-rolled coils remained high, and the terminal demand was quite resilient. Tariff issues and anti-involution affected the market trading sentiment, but the strong performance of furnace materials provided cost support. Technically, the 1-hour MACD indicator of the HC2510 contract showed that DIFF and DEA were回调 downward and might test the support at the 0 axis. The operation strategy is to go long on dips, paying attention to rhythm and risk control [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the HC main contract was 3,190 yuan/ton, a decrease of 1 yuan; the position volume was 1,582,553 lots, a decrease of 11,138 lots [2]. - The net position of the top 20 in the HC contract was 20,460 lots, an increase of 1,883 lots; the price difference between the HC10 - 1 contract was -11 yuan/ton, a decrease of 2 yuan [2]. - The daily warehouse receipt of HC on the Shanghai Futures Exchange was 64,587 tons, unchanged; the price difference between the HC2510 - RB2510 contract was 127 yuan/ton, a decrease of 1 yuan [2]. 3.2 Spot Market - The price of 4.75 hot-rolled coils in Hangzhou was 3,260 yuan/ton, unchanged; in Guangzhou, it was 3,210 yuan/ton, unchanged; in Wuhan, it was 3,260 yuan/ton, unchanged; in Tianjin, it was 3,140 yuan/ton, unchanged [2]. - The basis of the HC main contract was 70 yuan/ton, an increase of 1 yuan; the price difference between hot-rolled coils and rebar in Hangzhou was 50 yuan/ton, unchanged [2]. 3.3 Upstream Situation - The price of 61.5% PB fine ore at Qingdao Port was 727 yuan/wet ton, an increase of 8 yuan; the market price of quasi-first-class metallurgical coke in Hebei was 1,265 yuan/ton, unchanged [2]. - The price of 6 - 8mm scrap steel in Tangshan (tax-excluded) was 2,210 yuan/ton, unchanged; the price of Q235 billet in Hebei was 2,910 yuan/ton, unchanged [2]. - The domestic iron ore port inventory was 138.784 million tons, a decrease of 518,300 tons; the coke inventory of sample coking plants was 617,100 tons, a decrease of 121,000 tons [2]. - The coke inventory of sample steel mills was 6.3755 million tons, an increase of 100,400 tons; the billet inventory in Hebei was 873,400 tons, an increase of 100,800 tons [2]. 3.4 Industry Situation - The blast furnace operating rate of 247 steel mills was 83.44%, a decrease of 0.40%; the blast furnace capacity utilization rate was 90.27%, a decrease of 0.58% [2]. - The weekly output of hot-rolled coils of sample steel mills was 3.2814 million tons, an increase of 90,000 tons; the capacity utilization rate of hot-rolled coils was 83.83%, an increase of 0.24% [2]. - The factory inventory of hot-rolled coils of sample steel mills was 783,200 tons, an increase of 10,000 tons; the social inventory of hot-rolled coils in 33 cities was 2.6661 million tons, an increase of 367,000 tons [2]. - The domestic crude steel output was 8.655 million tons, an increase of 53,000 tons; the net export volume of steel was 1.01 million tons, an increase of 16,000 tons [2]. 3.5 Downstream Situation - The monthly output of automobiles was 2.6485 million vehicles, an increase of 29,800 vehicles; the monthly sales of automobiles were 2.6863 million vehicles, an increase of 96,700 vehicles [2]. - The monthly output of air conditioners was 29.48 million units, a decrease of 1.353 million units; the monthly output of household refrigerators was 8.51 million units, an increase of 331,000 units [2]. - The monthly output of household washing machines was 9.412 million units, a decrease of 239,000 units [2]. 3.6 Industry News - In June 2025, the national ex-factory price of industrial producers decreased by 3.6% year-on-year and 0.4% month-on-month; the purchase price of industrial producers decreased by 4.3% year-on-year and 0.7% month-on-month. In the first half of the year, the ex-factory price of industrial producers decreased by 2.8% compared with the same period last year, and the purchase price of industrial producers decreased by 2.9% [2]. - US Treasury Secretary Bezant said on the 7th local time that he expects to meet with Chinese officials in the next few weeks to promote consultations between China and the US on trade and other issues [2]. 3.7 Key Points of Attention The weekly output, factory inventory, and social inventory of hot-rolled coils on Thursday [2]

Report Summary 1. Report Industry Investment Rating No investment rating is provided in the report. 2. Core Viewpoint - The HC2510 contract rebounded with reduced positions on Tuesday. The weekly output of hot - rolled coils increased again, with a capacity utilization rate of 83.59%. Factory inventory increased while social inventory decreased, and the total inventory increased by 0.99 million tons. Overall, hot - rolled coil production remains at a high level, terminal demand is relatively resilient, raw material coal and coke prices have declined, weakening cost support, and short - term market conditions may fluctuate. Technically, the 1 - hour MACD indicator of the HC2510 contract shows that DIFF and DEA are running above the 0 axis. It is recommended to conduct intraday short - term trading and pay attention to rhythm and risk control [2]. 3. Summary by Directory 3.1 Futures Market - HC main contract closing price: 3,136 yuan/ton, up 13 yuan [2]. - HC main contract position: 1,522,628 lots, down 3,081 lots [2]. - Net position of the top 20 in HC contracts: 47,818 lots, down 31,083 lots [2]. - HC10 - 1 contract spread: 0 yuan/ton, up 5 yuan [2]. - HC warehouse receipts on the SHFE: 66,957 tons, down 586 tons [2]. - HC2510 - RB2510 contract spread: 133 yuan/ton, up 7 yuan [2]. 3.2 Spot Market - Hangzhou 4.75 hot - rolled coil: 3,210 yuan/ton, down 20 yuan [2]. - Guangzhou 4.75 hot - rolled coil: 3,180 yuan/ton, unchanged [2]. - Wuhan 4.75 hot - rolled coil: 3,230 yuan/ton, unchanged [2]. - Tianjin 4.75 hot - rolled coil: 3,110 yuan/ton [2]. - HC main contract basis: 74 yuan/ton, down 33 yuan [2]. - Hangzhou hot - rolled coil - rebar spread: 50 yuan/ton, down 30 yuan [2]. 3.3 Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 706 yuan/wet ton, down 7 yuan [2]. - Hebei quasi - first - class metallurgical coke: 1,265 yuan/ton, unchanged [2]. - Tangshan 6 - 8mm scrap steel: 2,230 yuan/ton, unchanged [2]. - Hebei Q235 billet: 2,900 yuan/ton, down 20 yuan [2]. - Domestic iron ore port inventory: 139.3023 million tons, up 0.3607 million tons [2]. - Sample coking plant coke inventory: 738,100 tons, down 73,100 tons [2]. - Sample steel mill coke inventory: 6.2751 million tons, down 65,000 tons [2]. - Hebei billet inventory: 772,600 tons, up 80,000 tons [2]. 3.4 Industry Situation - 247 steel mill blast furnace operating rate: 83.84%, unchanged [2]. - 247 steel mill blast furnace capacity utilization rate: 90.85%, up 0.04 percentage points [2]. - Sample steel mill hot - rolled coil output: 3.2724 million tons, up 0.0179 million tons [2]. - Sample steel mill hot - rolled coil capacity utilization rate: 83.59%, up 0.45 percentage points [2]. - Sample steel mill hot - rolled coil factory inventory: 782,200 tons, up 17,000 tons [2]. - 33 - city hot - rolled coil social inventory: 2.6294 million tons, down 7,100 tons [2]. - Domestic crude steel output: 86.55 million tons, up 0.53 million tons [2]. - Steel net export volume: 1.01 million tons, up 0.016 million tons [2]. 3.5 Downstream Situation - Automobile production: 2.6485 million vehicles, up 0.0298 million vehicles [2]. - Automobile sales: 2.6863 million vehicles, up 0.0967 million vehicles [2]. - Air - conditioner production: 29.48 million units, down 1.353 million units [2]. - Household refrigerator production: 8.51 million units, up 0.331 million units [2]. - Household washing machine production: 9.412 million units, down 0.239 million units [2]. 3.6 Industry News - In June, the Caixin China Manufacturing PMI was 50.4, up 2.1 percentage points from the previous month and back in the expansion range. It was the 8th time in the past 9 months that the index was above the boom - bust line, indicating a slight improvement in manufacturing sentiment [2]. - According to the China Automobile Dealers Association, the China Automobile Dealer Inventory Alert Index in June was 56.6%, down 5.7 percentage points year - on - year and up 3.9 percentage points month - on - month, showing a decline in the automobile circulation industry's sentiment [2]. - Since 2025, China's billet exports have increased too rapidly year - on - year. After annualized calculation, it may exceed 10 million tons. Massive billet exports are not conducive to the industry's energy conservation, carbon reduction, and green transformation. Enterprises are advised to look at the long - term and be cautious about billet exports [2].

| 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,093 | -11↓ HC 主力合约持仓量(手) | 1522669 | -5724↓ | | | HC 合约前20名净持仓(手) | 119,736 | +772↑ HC10-1合约价差(元/吨) | 2 | -1↓ | | | HC 上期所仓单日报(日，吨) | 99503 | -1809↓ HC2510-RB2510合约价差(元/吨) | 112 | -2↓ | | | 杭州 4.75热轧板卷(元/吨) | 3,210.00 | 0.00 广州 4.75热轧板卷(元/吨) | 3,180.00 | 0.00 | | 现货市场 | 武汉 4.75热轧板卷(元/吨) | 3,220.00 | 0.00 天津 4.75热轧板卷(元/吨) | 3,110.00 | 0.00 | | | HC主力合约基差(元/吨) | 117.00 | +11.00↑ 杭州热卷-螺纹钢价差(元/吨) | 80.00 ...

研究员: 蔡跃辉 期货从业资格号F0251444 期货投资咨询从业证书号Z0013101 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任 自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本报告版权仅为我公司所有，未经书面许可，任 何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引 用、删节和修改。 热轧卷板产业链日报 2025/6/12 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,080 | -28↓ HC 主力合约持仓量(手) | 1566756 | +3326↑ | | | HC 合约前20名净持仓(手) | 128,867 | -12831↓ HC10-1合约价差(元/吨) | 1 | -5↓ | | | HC 上期所仓单日报(日 ...

热轧卷板产业链日报 2025/6/11 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | HC 主力合约收盘价(元/吨) | 3,108 | +19↑ HC 主力合约持仓量(手) | 1563430 | -29186↓ | | 期货市场 | HC 合约前20名净持仓(手) | 141,698 | +9669↑ HC10-1合约价差(元/吨) | 6 | +2↑ | | | HC 上期所仓单日报(日，吨) | 120640 | -2358↓ HC2510-RB2510合约价差(元/吨) | 117 | +2↑ | | | 杭州 4.75热轧板卷(元/吨) | 3,220.00 | +10.00↑ 广州 4.75热轧板卷(元/吨) | 3,220.00 | 0.00 | | 现货市场 | 武汉 4.75热轧板卷(元/吨) | 3,230.00 | 0.00 天津 4.75热轧板卷(元/吨) | 3,130.00 | +10.00↑ | | | HC主力合约基差(元/吨) | 112.00 | -9. ...

Report Industry Investment Rating - No information provided Core Viewpoints - On Tuesday, the HC2510 contract first declined and then rebounded. In May, China's CPI decreased by 0.1% year - on - year, with the decline rate remaining the same as the previous month; the PPI decreased by 3.3% year - on - year, with the decline rate widening by 0.6 percentage points compared to the previous month. In terms of supply and demand, the weekly output of hot - rolled coils increased by 92,000 tons this period, and the capacity utilization rate was adjusted up to 83.98%; the factory inventory and social inventory continued to increase, with the total inventory increasing by 78,300 tons and the apparent demand decreasing by 60,100 tons. Overall, the export volume of steel and automobiles remained strong. In the short term, continue to focus on the results of the China - US talks. Technically, the 1 - hour MACD indicator of the HC2510 contract shows that DIFF and DEA rebounded to near the 0 axis. For operation, conduct intraday short - term trading and pay attention to rhythm and risk control [2] Summary by Related Catalogs Futures Market - The closing price of the HC main contract was 3,089 yuan/ton, a decrease of 6 yuan; the trading volume was 1,592,616 lots, an increase of 7,398 lots. The net position of the top 20 in the HC contract was 132,029 lots, an increase of 2,442 lots. The HC10 - 1 contract spread was 4 yuan/ton, an increase of 2 yuan. The HC warehouse receipt of the Shanghai Futures Exchange was 122,998 tons, a decrease of 1,783 tons. The HC2510 - RB2510 contract spread was 115 yuan/ton, an increase of 1 yuan [2] Spot Market - The price of 4.75 hot - rolled coils in Hangzhou was 3,210 yuan/ton, unchanged; in Guangzhou was 3,220 yuan/ton, unchanged; in Wuhan was 3,240 yuan/ton, unchanged; in Tianjin was 3,120 yuan/ton, unchanged. The basis of the HC main contract was 121 yuan/ton, an increase of 6 yuan. The price difference between Hangzhou hot - rolled coils and rebar was 90 yuan/ton, unchanged [2] Upstream Situation - The price of 61.5% PB iron ore fines at Qingdao Port was 720 yuan/wet ton, a decrease of 6 yuan. The price of quasi - first - grade metallurgical coke in Hebei was 1,320 yuan/ton, unchanged. The price of 6 - 8mm scrap steel in Tangshan was 2,205 yuan/ton, unchanged. The price of Q235 billet in Hebei was 2,900 yuan/ton, an increase of 10 yuan. The domestic iron ore port inventory was 138.2669 million tons, a decrease of 398,900 tons. The coke inventory of sample coking plants was 881,900 tons, an increase of 97,100 tons. The coke inventory of sample steel mills was 6.4595 million tons, a decrease of 89,300 tons. The billet inventory in Hebei was 674,500 tons, an increase of 2,800 tons [2] Industry Situation - The blast furnace operating rate of 247 steel mills was 83.54%, a decrease of 0.35 percentage points. The blast furnace capacity utilization rate of 247 steel mills was 90.63%, a decrease of 0.04 percentage points. The hot - rolled coil output of sample steel mills was 3.2875 million tons, an increase of 92,000 tons. The hot - rolled coil capacity utilization rate of sample steel mills was 83.98%, an increase of 2.35 percentage points. The hot - rolled coil inventory of sample steel mills was 763,500 tons, an increase of 13,300 tons. The social inventory of hot - rolled coils in 33 cities was 2.6429 million tons, an increase of 65,000 tons. The domestic crude steel output was 86.02 million tons, a decrease of 6.82 million tons. The net steel export volume was 1.0097 million tons, an increase of 15,700 tons [2] Downstream Situation - The monthly automobile production was 2.6188 million vehicles, a decrease of 387,100 vehicles. The monthly automobile sales were 2.5896 million vehicles, a decrease of 325,900 vehicles. The monthly output of air conditioners was 30.833 million units, a decrease of 2.8789 million units. The monthly output of household refrigerators was 8.179 million units, a decrease of 1.2045 million units. The monthly output of household washing machines was 9.651 million units, a decrease of 1.3512 million units [2] Industry News - According to the latest data from the General Administration of Customs, in May 2025, China exported 695,000 automobiles; from January to May, the cumulative export was 2.853 million vehicles, a year - on - year increase of 16.8%. According to the Passenger Car Association, the retail sales of the national passenger car market in May were 1.96 million vehicles, a year - on - year increase of 13.9% and a month - on - month increase of 10%; from January to May, the cumulative retail sales of the national passenger car market were 8.934 million vehicles, a year - on - year increase of 9.5% [2]

热轧卷板产业链日报 2025/6/3 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,052 | -24↓ HC 主力合约持仓量(手) | 1588097 | +9572↑ | | | HC 合约前20名净持仓(手) | 127,257 | +4054↑ HC10-1合约价差(元/吨) | 7 | +13↑ | | | HC 上期所仓单日报(日，吨) | 136603 | -1179↓ HC2510-RB2510合约价差(元/吨) | 124 | +9↑ | | 现货市场 | 杭州 4.75热轧板卷(元/吨) | 3,170.00 | -20.00↓ 广州 4.75热轧板卷(元/吨) | 3,200.00 | -40.00↓ | | | 武汉 4.75热轧板卷(元/吨) | 3,220.00 | -20.00↓ 天津 4.75热轧板卷(元/吨) | 3,100.00 | -50.00↓ | | | HC主力合约基差(元/吨) | 118.00 ...

Report Summary 1. Investment Rating - No investment rating for the industry is provided in the report. 2. Core View - On Thursday, the HC2510 contract initially declined and then rebounded. The overall terminal demand for hot - rolled coils has strong resilience, with the apparent demand turning from a decline to an increase, which supports the low - level rebound of hot - rolled coils. However, the black sector is weak, so the rebound of hot - rolled coils faces significant pressure. Technically, the 1 - hour MACD indicator of the HC2510 contract shows that DIFF and DEA are running below the 0 axis. The recommended operation is intraday short - term trading with risk control [2]. 3. Data Summary Futures Market - HC main contract closing price: 3,110 yuan/ton, up 10 yuan [2]. - HC main contract open interest: 1,552,234 lots, up 15,120 lots [2]. - Net open interest of the top 20 in HC contracts: 136,102 lots, up 22,508 lots [2]. - HC10 - 1 contract spread: - 8 yuan/ton, up 2 yuan [2]. - HC Shanghai Futures Exchange warehouse receipt: 148,677 tons, down 4,454 tons [2]. - HC2510 - RB2510 contract spread: 132 yuan/ton, down 4 yuan [2]. Spot Market - Hangzhou 4.75 hot - rolled coil: 3,200 yuan/ton, up 10 yuan [2]. - Guangzhou 4.75 hot - rolled coil: 3,240 yuan/ton, unchanged [2]. - Wuhan 4.75 hot - rolled coil: 3,240 yuan/ton, unchanged [2]. - Tianjin 4.75 hot - rolled coil: 3,150 yuan/ton, unchanged [2]. - HC main contract basis: 90 yuan/ton, unchanged [2]. - Hangzhou hot - rolled coil - rebar spread: 90 yuan/ton, up 10 yuan [2]. Upstream Situation - Qingdao Port 61.5% PB iron ore fines: 737 yuan/wet ton, up 5 yuan [2]. - Hebei quasi - first - grade metallurgical coke: 1,400 yuan/ton, down 50 yuan [2]. - Tangshan 6 - 8mm scrap steel: 2,205 yuan/ton, unchanged [2]. - Hebei Q235 billet: 2,910 yuan/ton, up 10 yuan [2]. - Domestic iron ore port inventory: 13,987.83 million tons, down 178.26 million tons [2]. - Sample coking plant coke inventory: 73.30 million tons, up 8.05 million tons [2]. - Sample steel mill coke inventory: 660.90 million tons, down 2.62 million tons [2]. - Hebei billet inventory: 69.3 million tons, down 5.21 million tons [2]. Industry Situation - 247 steel mill blast furnace operating rate: 83.67%, down 0.46% [2]. - 247 steel mill blast furnace capacity utilization rate: 91.3%, down 0.44% [2]. - Sample steel mill hot - rolled coil output: 319.55 million tons, up 13.87 million tons [2]. - Sample steel mill hot - rolled coil capacity utilization rate: 81.63%, up 3.54% [2]. - Sample steel mill hot - rolled coil factory inventory: 75.02 million tons, down 1.90 million tons [2]. - 33 - city hot - rolled coil social inventory: 257.79 million tons, down 5.48 million tons [2]. - Domestic crude steel output: 8,602 million tons, down 682 million tons [2]. - Steel net export volume: 994 million tons, down 2 million tons [2]. Downstream Situation - Automobile production: 261.88 million vehicles, down 38.71 million vehicles [2]. - Automobile sales: 258.96 million vehicles, down 32.59 million vehicles [2]. - Air - conditioner production: 3,083.30 million units, down 287.89 million units [2]. - Household refrigerator production: 817.90 million units, down 120.45 million units [2]. - Household washing machine production: 965.10 million units, down 135.12 million units [2]. Industry News - Mysteel on May 29 reported that the actual hot - rolled coil output was 319.55 million tons, an increase of 13.87 million tons; factory inventory and social inventory continued to decline, with total inventory down 7.38 million tons and apparent demand up 13.87 million tons [2]. - The US Federal Court on May 28 blocked the tariff policy announced by President Trump on April 2 and ruled that Trump's act of imposing comprehensive tariffs on countries with more exports than imports to the US exceeded his authority [2].

数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ 备注：HC：热轧卷板 研究员: 蔡跃辉 期货从业资格号F0251444 期货投资咨询从业证书号Z0013101 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任 自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本报告版权仅为我公司所有，未经书面许可，任 何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引 用、删节和修改。 热轧卷板产业链日报 2025/5/15 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | HC 主力合约收盘价(元/吨) | 3,260 | -7↓ HC 主力合约持仓量(手) | 1362524 | +10630↑ | | | HC 合约前20名净持仓(手) | 80,023 | -18179↓ HC10-1 ...